4.5. SR 04-19-2004TO:
FROM:
DATE:
SUBJECT:
Item 4.5.
MEMORANDUM
Mayor and City Council
Lori Johnson, Finance Director
April 19, 2004
Update by Howard Roston on Oakwood Builders' Contract and
St. Paul Companies' Bond for City HalI/ERMU Building Project
Howard Roston will be present on Monday to update the Council on the status of the
outstanding matter with St. Paul Companies that has resulted because Oakwood Builders,
the masonry contractor on the building project, defaulted on its contract. Several weeks ago
you received a letter from Mr. Roston briefly outlining the options available to the city to
settle this issue. Additional financial information regarding the original contract and the
payments made under the performance bond will be presented at the meeting.
Action Requested
Following discussion and the presentation of additional information, the Council is asked to
give staff and the attorney direction on how it would like to proceed with this issue.
S:~CouncilNLori~2004\ StPaulCo.doc